Petrol, Diesel Prices Hiked After 19 Days

Poor and rural households are the biggest losers in the monthly fuel price reviews after Kerosene prices were hiked by Sh1.50 by the Energy Regulatory Commission.

The energy regulator has signalled more pain at the pump as it announced that petrol, mostly consumed by private cars, is up by Sh0.34 a litre to Sh107.17 in Nairobi in its latest review. Opposition parties criticised the sudden increase in fuel prices after a gap of 19 days and alleged that the government is interfering with the working of the state-run oil marketing companies despite petrol and diesel prices being decontrolled.

Since India imports more than 80 percent of its crude oil requirement from the global market, the prices of petrol and diesel are directly proportional to worldwide crude oil prices. These prices remained intact till May 13, 2018.

Moreover, Brent crude futures were at $76.65 per barrel at 0415 GMT, down 47 cents, or 0.6 percent from their last close. In New Delhi, the petrol was retailing at Rs 74.95 per litre in Delhi, Rs 77.65 per litre in Kolkata, Rs 82.79 per litre in Mumbai and Rs 77.77 per litre in Chennai, according to Indian Oil Corporation's official website. We can expect further price hikes in the coming days. According to the International Olympic Committee website, now petrol in Delhi will be available at Rs 74.80 per litre.

After the revision, a litre of petrol in Delhi will cost Rs 74.80 while diesel will be available for Rs 66.14 a litre. With this, diesel prices touched an all-time high of 66 rupees 14 paise.

There could be far worse news in the offing. So prepare to toss your monthly budget out of the window. Also, the rupee has weakened to Rs 67 per United States dollar from Rs 66.62, making imports costlier.

Congress president Rahul Gandhi tweeted: "Karnataka finishes voting, FUEL prices rise to a four-year high!" A Dalal Street analyst said not hiking fuel prices ahead of state elections is a normal phenomenon. "Every Re 1 of marketing margin absorbed by the OMCs for a year may lead to a loss of Rs 110 billion for them", said a source close to the development. Since then, analysts say, value-buying is slowly pushing the stock up, since the April low was perceived as the nadir.

The big question is whether the government will intervene and cut excise duty to bring relief to the OMCs and consumers alike. But what he didn't tell was that why they have higher prices.

Leave Your Comment

Leave Your Comment

Latest News

The Israeli military said three of those killed were armed militants who tried to place explosives near the fence. The health officials said 900 Palestinians were wounded, about 450 of them by live bullets, Gulf News reported.

We of course need to take this information with a grain of salt, as we need to hear the official announcement from Nintendo. So completely different to normal F-Zero and with seemingly nothing in common with any previous Star Fox game.

We are able to declare we will make improved, but together with the players we have, here may be how we are able to buy. On the other hand, another win for Hyderabad will hand them their seventh consecutive victory this season.

Trump is working on an anti-bullying campaign to teach children to behave with more consideration and kindness on social media . Trump had been experiencing an issue with her kidney that her office described as benign but requiring medical attention.

Apple has yet to officially respond to the lawsuit and they have also to acknowledge what could be the reason behind the flaw. It's not acceptable for computers that cost $1,299 and more to have keyboards that break because of small amounts of dust.

Members of the Civil Defence, Offaly Fire Services and Garda were first to attend the scene, along with local residents. The Air Accident Investigation Unit has confirmed it is investigating the circumstances of the crash.

The 2018 NBA Conference Finals began last night with the opening game between the Boston Celtics and the Cleveland Cavaliers . His prowess in that area was on full display in Houston's Game 5 win that eliminated the Timberwolves in the first round.

McCain said he opposes her confirmation as Central Intelligence Agency director because of what she did in the past. The next day, Meghan McCain said on The View that she was shocked Sadler was still employed by the White House.

We hope that it will reinforce the realisation that the world is not the same anymore. " The world has changed ". The move comes as the topics of inclusion and equality have been front and centre at Cannes Film Festival 2018.

Marina Krim , 41, went a step further, and called out the " evil defendant" and her "entire family of bad, unethical people". The nanny's lawyer had argued that Ortega was mentally ill and couldn't be held responsible for the children's deaths.

The presidents also discussed matters related to the Syrian peace process and the implementation of key bilateral projects. Turkey has " more extensive " economic ties with Iran , including energy imports from the country, he said.

Avenatti declined to go on Tucker Carlson Tonight , but told McNally he'd "be happy to" appear on Sean Hannity's show. Avenatti said he and Brinkley were "friends", adding that she is a "classy, smart woman with great insight".

Plus, Google says it may hand out free Google Play credits to buy apps, music and movies, and offer other sorts of deals as well. Google's paid storage plans are set to become more affordable this year, following the roll-out of the new " Google One ".

The scandal you would recall sept through the internet like a tornado; but Facebook had since been making some sweeping changes. Facebook says the investigation process is in full swing and it is being carried out in two phases.

Recommended

Russian Federation has repeatedly denied it was involved in the nerve agent attack on Sergei Skripal and his daughter Yulia . However the MI5 chief will express confidence to tackle impending threats in coordination with the UK's "European partners".

Based on their remains, Karnavian said the mother and daughters were all wearing explosives around their waists. Later in the day, police said another family attempted to carry out an attack the Surabaya suburb of Sidoarjo.

Fears of a trade war emerged in April when both sides engaged in a multi-billion dollar tit-for-tat over tariffs. US crude futures climbed 26 cents, or 0.37%, to $70.96 a barrel on the New York Mercantile Exchange.

As news spread of Sadr's gains in the election, some of his followers celebrated in Baghdad and chanted "Iran out". Widespread disillusionment with Iraq's current political class appeared to have boosted Mr Al Sadr's coalition.

The visitors returned to Sin City with a 3-1 victory and the best-of-seven Western Conference final all square at 1-1. Former Miami RedHawk Reilly Smith hit Marchessault, who made a deke on top of the crease and scored on his backhand.

The fires were put out and police gradually left the field so the game could resume and the final seconds be played out. Shocking scenes unfolded in Hamburg this afternoon as fans protested against the club's relegation from the Bundesliga.

Iran's Supreme Leader Ayatollah Ali Khamenei has called the United States withdrawal "impudent" and "worthless". Military tensions between Iran and Israel have already mounted, and oil prices are rising on the uncertainty.

After the Chinese capital, Zarif will attend talks in Moscow and Brussels with representatives of the pact's other signatories. The decision came days after US President Donald Trump abandoned the deal that curbs the country's nuclear ambitions.